Not for release to US wire services or distribution in the United States
QUÉBEC CITY, May 30, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc (“Robex” or the “Company”) (TSX-V: RBX) is pleased to announce that, it has successfully completed an initial public offering on the Australian Securities Exchange (the “ASX”) of 38,585,209 CHESS Depositary Interests (“CDIs”) at an issue price of A$3.11 each (~C$2.73), to raise A$120 million (before associated costs) (the “Offer”). Each CDI represents one underlying common share of Robex.
The Company has received approval, subject to the usual conditions, from the ASX to Robex’s admission to the Official List and to the Official Quotation of Robex’s CDIs. Robex is working with ASX to meet the listing conditions and it is expected that trading in Robex’s CDIs (assigned a code of “RXR”) on the ASX will commence on a normal settlement basis on June 5, 2025. The Offer has received conditional TSX Venture Exchange (“TSXV”) acceptance, and final approval of the TSXV is subject to receipt by the TSXV of customary closing materials.
The net proceeds raised pursuant to the Offer will be used for development of the Kiniero Gold Project, financing costs, corporate costs and working capital, including to partially cover the costs of the Offer.
Pursuant to the terms of an underwriting agreement between Robex and the joint lead managers, Euroz Hartleys Limited and Canaccord Genuity (Australia) Limited (the “JLMs”), with SCP Resource Finance LP appointed as Co-Lead Manager and Blackwood Capital Pty Ltd appointed as Co-Manager to the Offer, Robex will pay a cash commission in the amount of A$ 5,4 million (~C$ 4,805,460).
Robex’s Managing Director and CEO Matthew Wilcox said: “We’re grateful for the completion of our initial public offering on the ASX. This operation is a crucial milestone for Robex Resources Inc and for the development of the Kiniero Gold Project. We have received conditional approval from the ASX and are actively working to meet the listing conditions. We look forward to commencing trading of our CDIs on the ASX and continuing to progress towards production on budget and schedule.”
Related Party Transaction
Certain directors and officers of the Company participated in the Offer and acquired CDIs. Their participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). Such transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of any securities issued to nor the consideration paid by such person exceeds 25% of the Company’s market capitalization. The participants in the Offer and the extent of their participation were not finalized until shortly prior to the completion of the Offer. Accordingly, it was not possible to publicly disclose details of the nature and extent of the related party participation in the Offer prior to completion of the Offer. Each related party transaction under the Offer is described below: (i) Alain William, Chief Financial Officer of the Company, purchased 16,077 CDIs for an aggregate subscription price of A$49,999.47; (ii) Gwendal Bonno, General Manager, People and Communication of the Company, purchased 96,463 CDIs for an aggregate subscription price of A$299,999.93; (iii) Howard Golden, a director of the Company, purchased directly or indirectly 3,215 CDIs for an aggregate subscription price of A$9,998.65; (iv) Dimitrios Felekis, Chief Development Officer of the Company, purchased 48,231 CDIs for an aggregate subscription price of A$149,998.41; (v) Clinton Bennett, Chief Operating Officer of the Company, purchased 9,646 CDIs for an aggregate subscription price of A$29,999.06; and (vi) John Dorward, a director of the Company, purchased directly or indirectly 25,723 CDIs for an aggregate subscription price of A$79,998.53.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with considerable exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Project in Guinea.
Robex’s ambition is to become one of the most important mid-tier gold producers in West Africa.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer Alain William, Chief Financial Officer
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this news release have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.
FORWARD-LOOKING INFORMATION AND FORWARD-LOOKING STATEMENTS
Certain information set forth in this news release contains “forward‐looking statements” and “forward‐looking information” within the meaning of applicable Canadian securities legislation (referred to herein as “forward‐looking statements”). Forward-looking statements are included to provide information about the Company’s management’s (“Management’s”) current expectations and plans that allow investors and others to have a better understanding of the Company’s business plans and financial performance and condition.
Statements made in this news release that describe the Company’s or Management’s estimates, expectations, forecasts, objectives, predictions, projections of the future or strategies may be “forward-looking statements”, and can be identified by the use of the conditional or forward-looking terminology such as “aim”, “anticipate”, “assume”, “believe”, “can”, “contemplate”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “guide”, “indication”, “intend”, “intention”, “likely”, “may”, “might”, “objective”, “opportunity”, “outlook”, “plan”, “potential”, “should”, “strategy”, “target”, “will” or “would” or the negative thereof or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. This news release includes certain “forward-looking statements” under applicable Canadian securities legislation, including, without limitation, statements regarding the terms of the Offer. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the ASX listing may not be completed, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca).
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These factors are not intended to represent a complete and exhaustive list of the factors that could affect the Company; however, they should be considered carefully. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
The Company undertakes no obligation to update forward-looking information if circumstances or Management’s estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking information.
